On Wednesday, the Nigeria Education Loan Fund announced that its Student Loan Application System has been fully transitioned to a digital format, aiming to accelerate and streamline the loan processing experience for both students and educational institutions.
“With this enhancement, all accredited schools must now apply for access to the SLAS to authenticate and submit student information concerning loan applications. This is an essential measure that guarantees the prompt processing and distribution of sanctioned student loans,” stated NELFUND through its Director of Corporate Communications, Oseyemi Oluwatuyi.
The Fund further encouraged institutions yet to adopt this system to promptly send an access request to [email protected]. Once access is provided, schools will be equipped to track the progress of each application, confirm the information provided, and access a real-time overview of their students’ loan applications.
“We call on all institutions to act swiftly for the benefit of their students, as the verification and submission of data by the schools are vital actions that must occur before final approval and loan distribution can be finalized,” the statement emphasized.
President Bola Tinubu’s significant initiative in the education sector is the formation of the student loan program.
Shortly after his inauguration as president, Tinubu enacted the Access to Higher Education Act, which establishes a legal framework for providing loans to underprivileged or low-income Nigerians, assisting them in covering their tuition fees in Nigerian higher education institutions.
The law, refreshed, birthed the Nigerian Education Loan Fund.
